Where Ontario’s 2022 fire-related deaths ranked
January 13, 2023 Philip PoradoOntario’s 133 fire-related deaths during 2022 were the highest in more than 20 years, the province’s Fire Marshal Jon Pegg said in a Jan. 3 tweet. In comparison, 2021 saw 124 fire-related deaths. There were 115 fire-related deaths in 2020…
Flood policy education: What brokers are up against
November 30, 2022 by David GambrillHalf of Canadian homeowners have not purchased additional coverage for water damage, relying on a standard homeowner policy that does not cover risk of overland flood or water seepage into the home. Endorsements are available to extend coverage for water…
Where home insurance premiums are trending upwards in 2022
July 8, 2022 by Jason ContantLaSalle, Ont., has the highest home insurance premiums in the province right now, whereas Ajax, Ont., offers the least expensive home insurance premiums, according to the latest data from rate comparison site RatesDotCa. On average, home insurance premiums in Ontario…
Sewer back-up or overland flood? Is a sun deck “within” a dwelling?
June 17, 2022 by David GambrillA sewer backup insurance policy only applies to a flood originating from “within” a dwelling and not from a drain overflow on a sun deck partially exposed to the outdoors, B.C.’s Supreme Court has ruled. In Gill v Wawanesa Mutual…
What IBC likes and dislikes about removing sales tax on home insurance
April 14, 2022 by Jason ContantInsurance Bureau of Canada (IBC) supports one provincial government’s plan to temporarily remove retail sales tax (RST) from home insurance, but is concerned about the administrative costs associated with the move. In its 2022 budget released Apr. 7, the Government…
Are your clients telling you about their tenants?
March 11, 2022 by Jason ContantIf your client has rented out part of their home, there’s nearly the same likelihood that they’ve told their insurer as not, according to a recent survey from RatesDotCa and BNN Bloomberg. The survey of 1,511 Canadians found that 42%…
Where Intact CEO sees personal home rates heading
February 7, 2022 by Jason ContantPersonal home insurance will continue to face a firm pricing environment for the foreseeable future, the CEO of Intact Financial Corporation said at a recent virtual conference. “You can expect a firm pricing environment, mid- to upper-single-digit range for the…
Onlia names two new executives
January 28, 2022 Canadian Underwriter StaffDigital auto and home insurance provider Onlia appointed Lambert Morvan as its new CEO and named Fleur Dujardin president effective Jan. 1, the company said. The two executives succeed Pieter Louter, who started the company. Louter is returning to Achmea in the Netherlands. “We…
Why home insurance rates are rising in 2022
January 17, 2022 by Alyssa DiSabatinoHome insurance policyholders can expect an average 5% rate increase in 2022, according to a report from RatesDotCa. The average cost for home insurance in Ontario in 2021 was $1,342, per RatesDotCa. A 5% increase would translate into a…
Talk to home and auto clients about changes that may affect premiums
December 23, 2021 Brooke SmithCanadians getting ready to ring in 2022 probably aren’t thinking about insurance coverage. Clients are required to alert brokers to any changes that might impact their coverage throughout a policy period — regardless of the renewal date, said Anthea McFarland,…
Home insurance can be more expensive in smaller towns: experts
October 8, 2021 Salmaan Farooqui - THE CANADIAN PRESSAs some Canadians are priced out of larger cities and look to move to smaller communities, insurance experts say homebuyers should be aware that life in a small town can often mean higher home insurance premiums. According to financial products…
Empty nest: How to talk to your clients about vacant home policies
September 29, 2021 Brooke SmithClients may need a vacant home policy for several reasons. “The most common one right now is people purchasing properties and looking to either improve them or completely rebuild,” said Rhys Doiron, group home & auto coordinator with Ontario brokerage…